Exports are on track to shatter records, but imports are creeping behind
We are following up on our comparison of U.S. imports and exports.
We know U.S. exports are on track to break records with sales up 12 percent, but imports are quickly outpacing this export growth. USDA Economist Bart Kenner tells us where those numbers are at.
“Currently our ag imports are 21 percent higher than they were last year. The highest May imports on record.”
Right now, export dollar values are still $8 billion ahead of imports, but one year ago, the trade surplus was double that at $16 billion.